menu
Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Sterling Heights, MI Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Sterling Heights, MI Housing Market Trends

With 132,567 people, 50,989 houses or apartments, and a median cost of homes of $309,431, Sterling Heights real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Sterling Heights, accounting for 66.48% of the city's housing units. Other types of housing that are prevalent in Sterling Heights include large apartment complexes or high rise apartments ( 17.04%), row houses and other attached homes ( 9.27%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.23%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Sterling Heights. Owner-occupied housing accounts for 75.50% of Sterling Heights's homes, and 65.96% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Sterling Heights built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Sterling Heights built between 1940-1969 ( 28.40%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.75%).

Sterling Heights Home Appreciation Rates

Appreciation rates for homes in Sterling Heights have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 99.65%, which ranks in the top 30% nationwide. This equates to an annual average Sterling Heights house appreciation rate of 7.16%.

Over the last year, Sterling Heights appreciation rates have trailed the rest of the nation. In the last twelve months, Sterling Heights's appreciation rate has been 4.71%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Sterling Heights were at -0.26%, which equates to an annual appreciation rate of -1.02%.

Relative to Michigan, our data show that Sterling Heights's latest annual appreciation rate is lower than 80% of the other cities and towns in Michigan.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Sterling Heights differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Sterling Heights - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Sterling Heights real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$309,431

Sterling Heights, MI Home Prices
> $1,254,000
$940,001 - $1,254,000
$626,001 - $940,000
$501,001 - $626,000
$376,001 - $501,000
$251,001 - $376,000
$125,001 - $251,000
$63,001 - $125,000
$0 - $63,000
0.2%
0.2%
0.4%
0.4%
2.1%
2.1%
5.2%
5.2%
18.3%
18.3%
48.3%
48.3%
18.8%
18.8%
2.8%
2.8%
3.8%
3.8%
0% 100.0%
% of Homes
High

for Michigan

High

for nation

Number of Homes And Apartments:

50,989

Sterling Heights Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,003 / per month

Homeownership Rate

Owners
Renters
75.5%
75.5%
24.5%
24.5%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
3.4%
3.4%
96.6%
96.6%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
13.8%
13.8%
57.1%
57.1%
28.4%
28.4%
0.7%
0.7%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
66.5%
66.5%
9.3%
9.3%
4.2%
4.2%
17.0%
17.0%
3.0%
3.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.2%
1.2%
10.0%
10.0%
20.9%
20.9%
46.9%
46.9%
19.1%
19.1%
2.0%
2.0%
0% 100.0%
% of Homes